Bristol-Myers Squibb Co. (BMY) reported fourth-quarter net earnings attributable to the company of $8.03 billion or $4.06 per share, compared to $1.24 billion or $0.63 per share for the same period in 2008. The fourth quarter 2009 net earnings included a $7.2 billion after tax gain, or $3.62 per share, attributed to the split-off of Mead Johnson Nutrition Company, which is recorded as discontinued operations.
Non-GAAP net earnings from continuing operations attributable to Bristol-Myers Squibb Company were $928 million or $0.47 per share, compared to $804 million or $0.40 per share for the same period in 2008.
Net sales for the quarter were $5.03 billion, compared to $4.54 billion in the prior year quarter.
Bristol-Myers expects its 2010 GAAP EPS from continuing operations to be in the range of $1.94 to $2.04 and its non-GAAP EPS from continuing operations to be between $2.15 and $2.25. The 2010 guidance assumptions include mid single-digit revenue growth. Analysts polled by Thomson Reuters expect the company to report earnings of $2.19 per share on revenues of $19.83 billion for fiscal 2010. Analysts' estimates typically exclude special items.
The company has previously provided guidance that it expected non-GAAP EPS to grow at a minimum of 15% compound annual growth rate from the 2007 base through 2010 without rebasing for the sale of the ConvaTec business. If the company meets its expected 2010 non-GAAP EPS from continuing operations guidance, it will exceed the prior 15% minimum three-year compound annual growth rate guidance.
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